Philippines’ Metro Pacific Investments Corp said on Wednesday it had not entered into any “definitive” agreement with foreign investors, after shares in the infrastructure conglomerate were boosted by market rumors of a potential deal. READ:
MANILA – Philippines’ Metro Pacific Investments Corp said on Wednesday it had not entered into any “definitive” agreement with foreign investors, after shares in the infrastructure conglomerate were boosted by market rumors of a potential deal.
The share rally came after speculation of the potential entry of a foreign investor or a plan to take the group private, said April Lee-Tan, head of research at online brokerage firm COL Financial in Manila. “After all, stock is super cheap”.
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